Home / Knowledge / News / Apparel/Garments / Shanta Group in JV with UK firm
Shanta Group in JV with UK firm
05
Apr '10
One of the leaders in garment production, Shanta Group, is in talks with a UK company to sell a certain amount of shares in two of its units for $15 million.

According to one of the directors of the company, Khondoker Jamil Uddin, more than 51 percent of these shares, will stay with Shanta Group for the 'purpose of operational benefits'.

A six-member team from UK are negotiating with the shareholders of Shanta Group to strike a deal. However, Jamil informed that since everything is going as per plan, the deal is soon to be signed.

Located at Dhaka Export Processing Zone, shares from both Shanta Industries and Shanta Denim will be sold. Shanta Industries was established in 1998 and Shanta Denim in 2002. As per Jamil, Shanta was facing problems in manning the business and had therefore decided for foreign partnership.

Insufficient supply of gas and power was making it impossible for them to meet their production deadlines. Trousers, shorts, shirts, blouses, dresses and vests are products produced by Shanta Industries and Shanta Denim.

Tommy Hilfiger, American Eagle, Gymboree, GAP, International Sourcing, Marks and Spencer, Levis and Next are some of Shanta's primary customers.

Of the total number of 7000 labourers working in Shanta Group, almost 4000 are employed in the above mentioned factories. Apparels worth $55 million were exported in 2009 of which Shanta Denim accounted for $30 million.

Shortage of gas and power, frequent labour unrest, fall in the export orders from international buyers and continued downward price pressure from them are the problems forcing other important groups as well, to hunt for either more global purchasers or enter into joint-ventures.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search